What's New?

2014 Individual Income Tax Year Changes

The following changes are all effective January 1, 2014, and will be reflected on the 2014 Missouri Individual Income Tax Returns.

Due Date

The due date for the 2014 Missouri Individual Income Tax Return is April 15, 2015.

Public Pension Exemption

The 2014 total public pension exemption is limited to $36,442 for each spouse.

Military Pension Exemption

Beginning January 1, 2014, 75 percent of a military pension income will be exempt from Missouri state tax. This tax deduction will increase to 100 percent January 1, 2016, when all military pension income will be tax free. Pension Exemption may be taken on the Form MO-1040, MO-A, Part 3, Section D.

Tax Chart

Taxpayers
should use the tax rates in the Tax Chart below when computing taxes on their 2014 Missouri return.

If the Missouri taxable income is:

The tax is:

$0-$99

$0

At least $100 but not over $1,000

1 ½% of the Missouri taxable income

Over $1,000 but not over $2,000

$15 plus 2% of excess over $1,000

Over $2,000 but not over $3,000

$35 plus 2 ½% of excess over $2,000

Over $3,000 but not over $4,000

$60 plus 3% of excess over $3,000

Over $4,000 but not over $5,000

$90 plus 3 ½% of excess over $4,000

Over $5,000 but not over $6,000

$125 plus 4% of excess over $5,000

Over $6,000 but not over $7,000

$165 plus 4 ½% of excess over $6,000

Over $7,000 but not over $8,000

$210 plus 5% of excess over $7,000

Over $8,000 but not over $9,000

$260 plus 5 ½% of excess over $8,000

Over $9,000

$315 plus 6% of excess over $9,000

Example: If your taxable income is $3,090, the tax would be computed as follows: $60 + $2.70 (3% of $90) = $62.70. The whole dollar amount to enter as tax would be $63.

Missouri taxable income is located on the following lines of the 2014 Missouri return:

Form MO-1040: Line 24

Form MO-1040A: Line 10

Form MO-1040P: Line 15

Form MO-1041: Line 13

You can also calculate your Missouri income tax using the Department's Income Tax Calculator. For more information regarding the tax rates in the above Tax Chart, please see Sections 143.011 and 143.021, RSMo.

Home Energy Audit Deduction

The Home Energy Audit Expense modification no longer contains a maximum total lifetime subtraction of $2,000. The maximum yearly subtraction may not exceed $1,000 for a taxpayer filing a single return or $2,000 for taxpayers filing a combined return. For more information about Home Energy Audit Deduction click here.

Trust Fund Changes

A new trust fund called the "Missouri National Guard Foundation Fund" is available on the 2014 tax return. The two digit code for this trust fund is "19". Additional information is available on page 10 of the MO-1040 instruction guide.

The After-School Retreat Reading and Assessment Program Fund sunset and terminated effective December 31, 2014.

The American Lung Association of Missouri Trust Fund is no longer an option on the Missouri return.

Refund Debit Card

The Missouri refund debit card is no longer an option on returns filed on or after January 1, 2015.

Federal income tax changes affecting the Missouri return:

Standard deduction amounts:

Single - $6,200

Married filing combined or qualifying widow(er) - $12,400

Head of household - $9,100

Married filing separate - $6,200

Federal Exemption amount - $3,950;

Taxpayers 65 or blind – $1,200 ($1,550 if single or head of household);

Social security tax withheld maximum amount - $7,254;

Railroad Retirement maximum amounts:

Tier I - $7,254

Tier II - $3,828

Federal Tax Deduction:

Excess advance premium tax credit (Federal Form 1040, Line 46 and Federal Form 1040A, Line 29) will reduce the federal tax deduction.

Net premium tax credit (Federal Form 1040, Line 69 and Federal Form 1040A, Line 45) will reduce the federal tax deduction.

Other Federal Tax Deduction:

Net premium tax credit (Federal Form 1040, Line 69 and Federal Form 1040A, Line 45) will reduce the federal tax deduction.

Itemized Deduction:

Social security tax withheld maximum amount - $7,254

Worksheet for net state and local income tax, complete if federal adjusted gross income is more than: